Risk Score AI™
Convr Provides An Accurate Forward-looking Measure of Risk
At Convr, we offer different risk scores to measure different things. They all deliver a similar benefit in that they provide a score to crystalize where a risk falls on the distribution of similar risks. Helping producers and underwriters evaluate where a business is on the quality of risk spectrum can mean the difference between the decision to write or a declination. It can also translate directly to pricing adequacy or not.
Achieving Superior Underwriting Performance with Risk Score AI
Better Risk Quantification
Make better decisions quickly with more accurate, interpretable, and granular measures of risk
Decisioning Speed
Grow your book of business fast and profitably through focused insights
Avoidance of Most Costly Claims
Calibrate individual risks and predict those most likely to experience a loss in the coming year
Price Adequacy
Improve underwriting margins through better control of risk selection
Illustrative Example
Workplace Safety Score
AI Features: Spatial Features
Convr's spatial features are created using machine learning models trained on 75 variables from 5+ million US businesses. The three information-rich spatial features can be used in pricing models, underwriting rules, and in spatial segmentation.
Granular spatial features - include information about business classes, revenue, number of employees, vehicles, mileage driven, bankruptcies, buildings, residential units, drivers, and more.